Meetings
of Management Corporation (S 26)
Within
1 month of the expiry of the initial period or within 6 weeks
of the receipt
of a request in writing mode by Subsidiary Proprietor of not less than 10%
of total number of lots in the subdivided building, the proprietor shall convene
a meeting
of Management Corporation
The
agenda for the meeting shall consist of:
- Decision
of extension of insurance
- Determination
of amount to be raised for management fund and sinking fund
- Determination
of members of council and to elect the council
- Appointment
of managing agent and determination of their powers and duties
- Adoption
of audited accounts of management corporation
Annual
General Meeting (S 27)
- Held
in each calendar year and not more than 15 months after
the holding
of the last preceding AGM
- Not holding
AGM, the management corporation and every member of the council
shall be hold guilty of an offence
Extraordinary
General Meeting (1st Schedule, S 14))
- Requisition
of EGM should be signed by one or more persons entitled
to vote in respect of one or more lots, the share value of which is at least
20% of the aggregate share value of all the lots in the subdivided
building,
or not less than 25% of total number of Subsidiary Proprietor of the
lots in subdivided building
- Requisition
shall state the objects of the meeting
- Meetings
must be held within 14 days after date of requisition,
if not, the requisitionists, representing more 50% of the
total, may
themselves convene a meeting subject to the expiration of 3 months from that date.
